China calls US debt deal immoral

[Stormweaver]

US can recover just by banning wall-mart to import cheap stuff from china....
it killing local US industry & rising unemployment...
walmart imports almost over $30 billion from china annually ...

All protectionism does is start trade wars that negatively affect all the economies involved. Not to mention the fact that governments do not outsource, companies do. And it is hard to control companies.

Now even if all exports from China are stopped, then Mexico will again become the American industrial off shoring site. And the Americans are signatories NAFTA so protectionism is out of the question.

Basically, Americans need their cheap imports and if China doesn't provide them, somebody else will. Manufacturing won't be coming back to the US anytime soon.

 

[AAtish]

Effects of Globalisation at its worst.. They initiated it by themselves, now they are suffering due to it.. Allowing businesses to look for cheap labour meant going out of US.. same is the case with UK too.. unemployment is reigning havoc, its easier to get 10 employees for a month abroad on the same pay as one employee for a month in UK..

As i have said before, they were opting for one government, one parliament and one bank for the world, but the world had different thoughts.. so now their plans are backfiring.. lets see how much time they can keep their economy afloat..

 

[third eye]

Immoral ?

How does it concern China what the US or any other country does internally to its finances ?

 

[vetti]

India also hold treasury bills worth 40Billion. But in the larger frame of things, US will inflate away its debt. For eg, I bought a house for 27 lakhs in 2001 with a 20 lakh bank loan. Now (after the super boom in 05-06) it s worth atleast 125 lakhs. this is nothing but inflation. But I am still paying 18000 rs per month as emi. At that time the emi was more than half my salary . Today its less than 10%. Basically inflation has ensured that my debt is cheaper. Similarly US has to pay 3 trillion. If there is a hyperinflation then everyones salary will go up and the cost of everything will go up too. and the 3 trillion that US has to pay Asia will seem like 300Billion (not accurate) in todays prices. In short, although China will get its 3 trillion, it will only be able to buy what 300billion can purchase today.
thats the genius of the USA. Remeber India willl aslo be affected because we hold 42 billions which is a huge sum. But also we have external debt of 300 billion and foreign reserves of 300 billion, so we will be less affected.

 

[Tiki Tam Tam]

Whether the debt deal is immoral or not, none can do anything about it.

The US still rules and that is the reality!

I wonder if any country can abandon the US and go its own way.

 

[vetti]

Whether the debt deal is immoral or not, none can do anything about it.

The US still rules and that is the reality!

I wonder if any country can abandon the US and go its own way.

Its not immoral , neither is it a con job. If I keep all my money in a bank and not invest it. 10 years later it will not have any purchasing power. Thats the nature of things. If china keeps its money in the bank(as bills) without any interest, it has been shoddy management on china's part . If China feels they are the recieving end they have no one but themselves to blame.
India also has 40 billion in t-bills.

 

[Mosamania]

US can recover just by banning wall-mart to import cheap stuff from china....
it killing local US industry & rising unemployment...
walmart imports almost over $30 billion from china annually ...

This will cause a suffocating inflation

 

[PERSIAN GOD KING]

Countries like usa are doomed to fall.

 

[fd24]

Its only a matter of time before the americans go bust. Cant wait to see them suffer the suffering they have bestowed on so many other muslim nations